Cement Hranice profit up, Czech Republic

Cement Hranice profit up, Czech Republic
Published: 27 May 2008

Cement Hranice netted Kc859.1m last year, an improvement from Kc763.1m net profit in 2006, and sales rose by Kc424.5m on the year to Kc2.14bn, the company announced.
 
Last year’s sales grew on higher building output in the Czech Republic and in Slovakia that resulted in a marked growth in cement consumption.
 
Domestic sales increased by 12 per cent and sales in Slovakia soared more than 40 per cent.
 
"Value added could not copy the growth rate of sales due to a big growth in prices of electricity, higher prices of coal and other inputs, and only increased by 21.8 per cent, and net earnings were 13 per cent higher," the management said in a press release for CTK.
 
Total assets stood at Kc2.39bn at end-2007, owner’s equity amounted to Kc1.85bn and loan capital reached Kc543.2m, up from 2006’s Kc459.2m.
 
Cement Hranice is part of the Dyckerhoff Group.